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Use three-step method to analyze how the following events influence the equilibrium price and quantity of HDTV.Technological progress increases the efficiency of mass producing HDTV-capable television sets. At the same time, more cable and television networks begin broadcasting in HDTV format, increasing the appeal of HDTV-capable television sets. On the basis of this information, what can be said about conditions in the HDTV market?
Why is the long-run aggregate supple curve vertical Explain the shape of the short run aggregate supply curve. Why is the short-run curve relatively flat to the left of the full-employment output and realively steep to the right
1. advertising is an important aspect of monopolistic competition and oligopoly becausea. there are significant
Boston based gas station owner set highest gasoline values in the country. During that summer, he charged $1.69 per gallon for unleaded gas during the daytime and $2.59 each gallon at night
If the price of the imported TV sets was $300.00 in the US.At the beginning of the year, how much would you expect the price of the same imported TV to be in the US at the end of the year.
he lease also provided that the vessel could be purchased at the end of 6 years by the oil company for $35,000. At the end of the 6 years, the oil company exercised its option and bought the vessel.
two firms produce homogeneous outputs with cost functionsc1q12c22q22and the inverse market demand
Show what happens to producer surplus, worker surplus and the gains from trade as workers migrate from a low- wage to a high- wage region. What happens to wages and employment if the government imposes a payroll tax on a monopsonist? Compare the r..
Calculate the equilibrium price and quantity that will prevail in a free market and calculate the price elasticity of demand and the price elasticity of supply at the equilibrium.
select six products orand services that you consume and write an analysis of the elasticity of demand for each of the
Describe benefit and cost externalities. List the reasons for lack of optimal allocation of resources in each case. Explain the need for government intervention in case of market failure due to externalities. Explain why government intervention may n..
In spite of significant price increases for gasoline in the last two years, the amount of gasoline consumed has not decreased a lot--does this mean that gasoline is an exception to the law of demand.
Institutional economics, especially applied to metropolitan areas, highlight problems with human capital theory and help us better understand wage differentials. Explain factors that shape wage differentials by metropolitan areas.
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